Co-founder of Bitmain Jihan Wu will continue to lead the Bitcoin mining company

14 Nov, 2018
by Joeri Cant
News
Co-founder of Bitmain Jihan Wu will continue to lead the Bitcoin mining company

International marketing manager of Bitmain, a major China-based bitcoin mining firm, Nishant Sharma, told CCN, that Jihan Wu will continue as a co-director of the board, while the company undergoes a restructuring.

It was previously reported that Bitmain had undergone changes in the structure of the board of directors, including that more than half the board had resigned, and that Jihan Wu was demoted to occupy a supervisor role at the company.

However, Bitmain has now officially denied these reports.

'As is standard listing practice, Bitmain is restructuring its board and group structure, to ensure it meets regulatory requirements on its road to IPO. This is to simplify the board structure to facilitate its management. There have been no board departures and co-founder Jihan Wu will continue to lead the company as co-chair, together with co-chief executive officer, Micree Zhan', Sharma said.

The restructuring follows news about Bitmain previously being accused of misleading investors ahead of the $18 billion IPO about how much support it had.

Read more: Did Bitmain mislead investors?

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Read more about:Bitcoin (BTC)Jihan Wu

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